Last year, Eta Company produced 20,000 units and sold 18,000 units at a price of $12. Costs for last year were as follows: Direct materials Direct labor Variable factory overhead Fixed factory overhead Variable selling expense Fixed selling expense Fixed administrative expense $20,000 35,000 12,000 37,000 9,000 7,500 15,500 Assuming that beginning inventory was zero, what is the value of ending inventory under variable costing? $6,700 $10,400 $12,050 O $7,600